Going to quit day job, just don't know when.

Discussion in 'Business Operations' started by thomas.creation, Nov 11, 2012.

  1. thomas.creation

    thomas.creation LawnSite Member
    Posts: 43

    I'll start out with some background. I'm a High School Shop teacher with 4 years under my belt. I'm married and have one child. My wife is a stay at home mother but has a Bachelors degree and I have my Masters. I've always wanted to own my own business and have looked at teaching as the fundraiser for this. Don't get me wrong, I love teaching and I do my best every day but I like my business life more. Diversifying is always a good thing for business owners and this is where I'm a little different. I do lawn maintenance and light install work along with snow in the winter. Averaged out I'm only at $700/mo net. I also own rental properties and currently bring in close to $2k/mo net. Combined I'm about dead even with my income from teaching minus the benefits. So right now I feel I'm doing real good for central IL where cost of living is low. I'm starting to plan out my departure form teaching and would like to hear some input and advise. Things I should consider ext. At this point I'm thinking it could happen within 2yrs but I don't want to wait more than 5. In that time I plan to purchase additional rentals and grow the lawn business a little but I'm about out of free time to do so.
    Thanks!
     
  2. ashgrove landscaping

    ashgrove landscaping LawnSite Gold Member
    Posts: 3,446

    Stick with your shop job. You wont last a year in this cutthroat evil industry. Remember when the weather is bad so is your money!! Then what ya going to do ??
     
  3. georgialawn88

    georgialawn88 LawnSite Bronze Member
    Posts: 1,075

    well the first thing you have to do is listen to negative people. They will bury you in a hole if you let them. You can do it and it sounds like your diversified. Just work at it be honest with everyone and grow slow so you dont get over your head. Insurance is a big deal so you gotta keep that in mind as well. If you have no more free time hire a helper till you get enough clients then quit your teaching job and let your helper go if need be. Biggest thing is to believe in yourself and not listen to the losers that have made nothing out of there life and wanna bring you down with them.
    my 2 cents...
     
  4. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,250

    Not to be negative,,,,But why "KILL THE GOOSE THAT LAID THE GOLDEN EGG"
     
  5. thomas.creation

    thomas.creation LawnSite Member
    Posts: 43

    I'm keepin up with what your puttin down. I just want to follow my dreams. That's all I can really say.


    I understand that this business is not easy. I've been in it since I was a kid. Lawn care has been supplemental to my teaching income and when I leave to go on my own I feel it will be a supplement to the rentals. Neither the rentals nor the lawn care are stabile incomes but together they can offer some peace of mind. Going with a helper is a good idea and I have often thought about it but I’m unsure of the legal side of this. I have liability insurance on my business already. For those of you with employees, how would you suggest I go about getting someone on my payroll? Is it worth it with say a 10hr/week guy?
     
  6. agrostis

    agrostis LawnSite Silver Member
    Posts: 2,250

    I understand wanting to follow your dream's, but remember that kid. If you do this and don't have any benefit's, one medical situation could put you in a hole that you can't recover from.
     
  7. thomas.creation

    thomas.creation LawnSite Member
    Posts: 43

    yeah, what I have now is decent. I need to find out what it will cost to get my own policy.
     
  8. agrostis

    agrostis LawnSite Silver Member
    Posts: 2,250

    In the south, for you, 150-175 a month with a high deductible. For a child, 125 -175 a week with a low deductible. Go north or west and the price goes up.
     
  9. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,715

    How many accounts do you have? Also your $10 PH guy is closer to $14, Someone on here made a good point in another thread. To hire a full time employee they have to gross 50k for me to make money. It made a lot of sense to me.
     
  10. 32vld

    32vld LawnSite Gold Member
    Posts: 3,984

    I don't know where you are.

    In NY teachers get the same health plan that cops, fire, and gov. workers get. Empire. School districts are charged $13,000 a year to give a teacher family coverage. There is not limit on prescriptions.

    In my state it was 5 years to be vested in the pension, newer hires is now ten years. Most districts will provide health coverage when you retire and have tens service.

    So in my state it pays to work then 10 years and retire with a small pension and H insurance.

    You cut off your hand or foot, god forbid, you wish you never had left your teaching job.

    I worked as a shop teacher. Rather I was employed as a shop teacher I had fun working with the students and having all that equipment to use.

    Hold on to that job till you can retire half pay. Then landscape full time.

    See your young now and your body does not ache, cold has no effect, heat same.
     

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